It is a chaotic time for management when their company is in the midst of a turnaround, fretting over revenue, placating investors, managing suppliers, reducing costs while keeping employees motivated. There is an inordinate amount of things that need to get done. How do you know what to prioritize? A disciplined process….
The first step in growing your business is to identify where the most likely opportunity for additional revenue might be. There are several possibilities you can consider, all with varying levels of risk, effort, cost and potential rewards.
•Spend time up at night worrying about your competition?
•Have multiple pages devoted to them in your business plan?
•Track their every pricing move and new product offering?
Some unease over the competition is healthy and warranted. However, it is best to keep your concern in perspective.
This recently hit my inbox from colleague John Martinka. I thought it had some good insights on what is really important when valuing a business as well as things to consider as you run your business, and build and nurture your customer base.
I recently attended an ACG webinar on M&A due diligence. My expectations were that we’d spend a lot of time on spreadsheets and legalities. Boy was I wrong!